Balance Sheet Condensed Balance Sheets (Unaudited) - USD ($) Mar. 31, 2020 Dec. 31, 2019 Current Assets: Cash and cash equivalents $ 9,541 $ 18,405 Accounts receivable, net 273,493 55,725 Accounts receivable - related party 107,660 18,860 Inventory 397,098 1,337,809 Prepaid expenses and other current assets - current 123,760 248,776 Prepaid expenses and other current assets - related party - current 622,159 622,160 Due from related parties 127,500 127,500 Total current assets 1,661,211 2,429,235 Other Assets: Deposits 40,000 80,000 Prepaid expenses and other current assets - long term 15,959 0 Prepaid expesnes and other current assets - related party - long-term 2,333,523 2,492,045 Property and equipment, net 450,706 477,433 Intangible assets, net 1,901,061 2,147,311 Operating lease right-of-use assets, net (see Note 7) 2,056,366 2,173,253 Total other assets 6,797,615 7,370,042 TOTAL ASSETS 8,458,826 9,799,277 Current Liabilities: Accounts payable 2,001,201 1,442,409 Accounts payable - related party 454,511 454,511 Accrued expenses 769,159 358,010 Unearned revenue -related party 0 215,000 Note payable - related parties 78,017 55,556 Subscription payable 250,000 250,000 Convertible notes, net of discounts 402,214 85,906 Derivative liability 773,924 880,410 Interest payable 25,682 16,677 Due to related party 85,000 0 Operating lease liabilities, current portion 498,778 432,065 Total current liabilities 5,338,486 4,190,544 Long Term Liabilities: Convertible notes payable 0 100,000 Operating lease liabilities, long-term portion (see Note 7) 1,646,705 1,826,887 Total long term liabilities 1,646,705 1,926,887 TOTAL LIABILITIES 6,985,191 6,117,431 Commitments and contingencies (see note 10) Equity (Deficit): Preferred stock 0 0 Common stock: 650,000,000 shares authorized; $0.0001 par value, 45,732,002 and 43,819,325 shares issued and outstanding, respectively 4,574 4,382 Common stock to be issued (308,330 and 664,580 shares to be issued, respectively) 30 66 Additional paid-in capital 26,080,432 25,343,293 Accumulated deficit (23,919,063) (21,129,379) Total Exactus Inc. Stockholders' Equity (Deficit) 2,166,923 4,219,315 Non-controlling interest in subsidiary (693,288) (537,469) Total Equity (Deficit) 1,473,635 3,681,846 TOTAL LIABILITIES AND EQUITY (DEFICIT) 8,458,826 9,799,277 Series A Preferred Stock Equity (Deficit): Preferred stock 32 35 Series B-1 Preferred Stock Equity (Deficit): Preferred stock 165 165 Series B-2 Preferred Stock Equity (Deficit): Preferred stock 752 752 Series C Preferred Stock Equity (Deficit): Preferred stock 0 0 Series D Preferred Stock Equity (Deficit): Preferred stock 0 0 Series E Preferred Stock Equity (Deficit): Preferred stock $ 1 $ 1 Source 10-Q PDF XBRL XLS PUBLISHED: JUNE 30, 2020
